Oura's $2.2B IPO is mostly a payday for existing shareholders
News Source
β’Mon, 21 Sep 2026 16:45:47 +0000
π° What Happened
Smart ring maker Oura wants to raise up to $2.2 billion in its upcoming IPO. The company and its shareholders are offering 50 million shares at $40 to $44 each.
Most of the money will go to existing shareholders, who are selling 36.5 million shares. That is nearly two-thirds of the total.
At a $42 share price, shareholders would get about $1.53 billion and the company about $567 million. Most of the company's share pays tax on employee share grants, leaving about $6.2 million for general use.
π The Backstory
Oura makes a smart ring that tracks sleep, heart rate and recovery. Its subscription business is growing fast, with an 89 percent gross margin.
Membership revenue more than doubled to $240.5 million, about 20 percent of sales. Hardware still brought in most revenue at $974 million. Oura expects about 5.7 million paying members this year.
The biggest seller is venture firm Forerunner Ventures, which plans to sell its whole 9.3 percent stake for about $1.2 billion. Oura could be worth about $14.1 billion after listing.
π― Why It Matters
The IPO is a big payday for early investors and a test of how much the market values wearable health tech. It will show if people keep paying for health data.
Smart ring maker Oura wants to raise up to $2.2 billion in its upcoming IPO. The company and its shareholders are offering 50 million shares at $40 to $44 each.
Most of the money will go to existing shareholders, who are selling 36.5 million shares. That is nearly two-thirds of the total.
At a $42 share price, shareholders would get about $1.53 billion and the company about $567 million. Most of the company's share pays tax on employee share grants, leaving about $6.2 million for general use.
Oura makes a smart ring that tracks sleep, heart rate and recovery. Its subscription business is growing fast, with an 89 percent gross margin.
Membership revenue more than doubled to $240.5 million, about 20 percent of sales. Hardware still brought in most revenue at $974 million. Oura expects about 5.7 million paying members this year.
The biggest seller is venture firm Forerunner Ventures, which plans to sell its whole 9.3 percent stake for about $1.2 billion. Oura could be worth about $14.1 billion after listing.
The IPO is a big payday for early investors and a test of how much the market values wearable health tech. It will show if people keep paying for health data.